A third of the mansions on the most expensive stretch of London’s “Billionaires Row” are standing empty, including several huge houses that have fallen into ruin after standing almost completely vacant for a quarter of a century.

A Guardian investigation has revealed there are an estimated £350m worth of vacant properties on the most prestigious stretch of The Bishops Avenue in north London, which last year was ranked as the second most expensive street in Britain.

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But he argued against increasing taxes on unoccupied homes, which he said would be an “annoyance” that would make buyers choose Monte Carlo or Milan instead of London.

So there’s a housing shortage in London, and “people with no economic or cultural ties to the city will move out” is supposed to be a threat?

The rich buying enormous houses so they can sit and rot then complaining people might actually want to tax them for it and threatening to take their “buying an enormous house to sit and rot” business elsewhere is such a breathtakingly good metaphor for the state of the world.